Alaska Pacific Bancshares, Inc.
Compensation Committee Charter
| Date Approved by Board: |
|
June 2007 |
| Date Originally Issued: |
|
February 2003 |
| Date Last Revised: |
|
August 2007 |
| Date Last Reviewed: |
|
August 2007 |
Mission Statement
The Committee annually reviews the report prepared by the Alaska Pacific Bank Compensation Committee on the compensation levels for the President and CEO and Chief Finanical Officer.
Membership
The Committee shall be composed of three or more outside directors appointed annually by the Chairman of the Board.
Meetings
The Committee will meet at least once a year.
Responsibilities
- Review the Recommendations from the Bank Compensation Committee on compensation levels for the President and CEO and the Chief Finanical Officer
- Review report from the Bank’s Human Resources Committee regarding the annual performance evaluation for the President and CEO and Chief Finanical Officer as it relates to the compensation levels for the President and CEO and Chief Finanical Officer
- Review report from the Bank Compensation Committee on the results of its P3 Incentive Compensation Plan as it relates to the compensation levels for the President and CEO and Chief Finanical Officer
Administration
Management shall ensure that accurate minutes are prepared for all committee meetings. Draft minutes of all committee meetings shall be provided to committee members as part of the Board package at the regular meeting following a committee meeting. All meetings shall be conducted in accordance with an agenda set by the Committee Chair.
Investor information is provided in the event that you are interested in considering Alaska Pacific Bancshares, Inc. stock as an investment. Alaska Pacific does not sell its own stock and this is not a solicitation for you to purchase stock. It is simply an informational service. It is important that you understand that Alaska Pacific Bancshares stock is not FDIC insured and should not be confused with Alaska Pacific Bank deposit products.
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